Tag Archives: black money

Circular No.43 of 2016 F.No. 142/33/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 27th December,2016 EXPLANATORY NOTES ON PROVISIONS OF THE TAXATION AND INVESTMENT REGIME FOR PRADHAN MANTRI GARIB KALYAN YOJANA, 2016 AS CONTAINED IN CHAPTER IX-A OF THE FINANCE …

This article is in continuation to my previous articles on Black money. Can this government bring back the so-called ‘black money’ stashed abroad?  Can this government tighten the noose on black money offenders within the country?  Not sure. But the only silver lining in the latest development is that the …

Introduction The Income Declaration Scheme, 2016 (referred to here as ‘the Scheme’) is contained in the Finance Act, 2016, which received the assent of the President on the 14th of May 2016. The Scheme provides an opportunity to persons who have paid not full taxes in the past to come …

For the time being, let’s forget the recommendations done by SIT. I have some recommendations to make! If my recommendations are implemented, the government can block many black money generating avenues! Please read and comment whether my suggestions make sense or not! You may disagree with me, but it is …

This is in continuation to my previous article ‘what are the recommendations of SIT on curbing black money? Part 1’ Misuse of exemption of Long Term Capital Gains Again, there is nothing new in the SIT report here. The rigging in stock market is not a new revelation. It’s been …

Previous Article: How black money is converted into white money I want to begin this article with an analogy. Assume you hire the services of a doctor to find out the reasons for a ‘cold’. He comes out with a detailed 30-page document (after 6 months) listing out the reasons such …

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: “One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians has or can have, a RUPAY debit card. I therefore, propose to introduce …

Is this the brain child of Modi government? The answer is NO. Benami Transactions (Prohibition) Act was enacted in 1988. Actually, it was in 1973 that the Law Commission of India recommended to formulate an Act to curb Benami Transactions! So, it took 15 years for the government to make …

How much is it? ‘Rs.14,000 Crores’; that’s all? But many ‘experts’ were estimating the money stashed at Swiss bank at around Rs.1,00,000 Cr. Some of them have estimated it to be Rs.25,00,000 Cr. I saw a document released a year before about Black Money (BM) and there the expert researchers …